To be honest, I haven't been trading HIVE/BTC as much in the past couple weeks, but I have been paying attention 😉. After the failed trend break mentioned in a previous post, I decided to accumulate and go outside for a bit. The outside part is worthy of it's own post.
Taking a quick look at HIVE/BTC may be trivial, but sometimes over thinking and over trading can lead to losses. Note, I haven't drawn any trend lines as the levels should be apparent with such a short timeframe. What do I see? Well, I don't know and that's the problem.
Clearly, this is not financial advice. 😅
There are so many possibilities (if) you look at the charts and discount our sound fundamentals. And one of them is (dun dun dunnnnnnnn....) we may likely fall lower with low volume. However, on a more positive note we don't have much further to fall as there should be solid support at/around 2800.
*Src: HiveWhat.com/charts
Another positive outcome is we chase back up to the 1mo MA and the break will be signalled by another cross like in late April.
*Src: Bittrex
Am I buying HIVE? Yes.
Long term, I still believe we break into Top 20 on CMC during the next Hive bull run to $1 and beyond.
Peace ✌️
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